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Home ‣ Compare ‣ Interactive Brokers vs FXCM 2025

Interactive Brokers vs FXCM 2025

ForexBrokers.com

Written by ForexBrokers.com

February 05, 2025

In this head to head comparison of Interactive Brokers vs FXCM, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Interactive Brokers
5/5 Stars Overall
  • Minimum Deposit: $0
  • Trust Score: 99
  • Tradeable Symbols (Total): 8500
FXCM
4.5/5 Stars Overall
  • Minimum Deposit: Starts from $50
  • Trust Score: 95
  • Tradeable Symbols (Total): 440

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Regulation

Interactive Brokers, established in 1977, and FXCM, founded in 1999, are both reputable platforms for online trading. Interactive Brokers is publicly traded and holds nine Tier-1 licenses, which are top indicators of trustworthiness, along with two Tier-2 licenses. It boasts a perfect Trust Score rating of 99 out of 99, suggesting a highly trusted status. In contrast, FXCM, also publicly traded, has four Tier-1 licenses and two Tier-2 licenses, with a strong but slightly lower Trust Score of 95. Neither platform operates as a bank, ensuring they focus solely on brokerage services.

Feature Interactive Brokers logoInteractive Brokers
FXCM logoFXCM
Year Founded info 1977 1999
Publicly Traded (Listed) info Yes Yes
Bank info No No
Tier-1 Licenses info 9 4
Tier-2 Licenses info 2 2
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 0

Fees

Interactive Brokers vs. FXCM: for most forex traders, Interactive Brokers (5/5 stars; ranked #2 of 63 for Commissions and Fees) tends to be cheaper all-in than FXCM (4/5 stars; ranked #26 of 63). IBKR doesn’t publish average spreads, but based on Q3 2024 data we observed about 0.19 pips on EUR/USD, or roughly 0.59 pips all-in after commission. By comparison, FXCM’s commission-based pricing averaged 0.28 pips on EUR/USD in May 2024, but the effective cost was closer to 0.74 pips after commissions. FXCM’s Standard account averaged 0.78 pips in the EU/UK/AU and 1.38 pips under its St. Vincent and the Grenadines entity.

Interactive Brokers charges a commission instead of marking up spreads: typically $16–$40 per million round-turn ($8–$20 per side), or 0.2 basis points per side with a $2 minimum per order ($4 round-turn). The $2 minimum means smaller-than-100k trades get proportionally pricier; a $100,000 EUR/USD trade equates to about 0.40 pips in commission on top of the spread. High-volume traders can qualify for lower costs, with the minimum dropping to $1.50 per order above $1 billion in monthly volume and as low as $1 per order above $5 billion. IBKR aggregates quotes from 17 major interbank dealers and supports RFQ for large orders.

FXCM’s pricing is slightly above the industry average unless you qualify for volume-based discounts. Its Active Trader Rebate Program (not available in the UK/EU) pays $5–$25 per million traded, which can trim costs but generally doesn’t beat the lowest-cost peers. In the UK, a $25,000 balance and $50 million in monthly volume can reduce the commission to $2.50 per side ($5 round-turn), yielding about 0.78 pips all-in on EUR/USD based on a 0.28-pip core spread. As with many brokers, spreads at FXCM can widen during rollover or in volatile markets.

Feature Interactive Brokers logoInteractive Brokers
FXCM logoFXCM
Minimum Deposit info $0 Starts from $50
Average Spread EUR/USD - Standard info 0.59 info 0.78 info
All-in Cost EUR/USD - Active info 0.65 info 0.78 info
Active Trader or VIP Discounts info Yes Yes
ACH or SEPA Transfers info Yes Yes
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes

Dive deeper: Best Low Spread Forex Brokers.

Featured Offers


Range of investments

Interactive Brokers vs FXCM: when it comes to range of investments, Interactive Brokers offers far more choice. It lists 8,500 tradeable symbols compared with 440 at FXCM. Both support forex trading (CFD or spot), but Interactive Brokers provides 90 currency pairs versus FXCM’s 46. For crypto, Interactive Brokers lets you buy actual coins as well as crypto derivatives, while FXCM limits you to crypto derivatives.

Stock access is another key difference. Interactive Brokers lets clients buy exchange-traded shares on U.S. and international exchanges (for example, Apple on Nasdaq or Vodafone in London); FXCM does not offer exchange-traded stocks. FXCM does support copy trading, whereas Interactive Brokers does not. Reflecting this product range, ForexBrokers.com rates Interactive Brokers 5 stars and ranks it #1 out of 63 for Range of Investments; FXCM earns 3.5 stars and ranks #48.

Feature Interactive Brokers logoInteractive Brokers
FXCM logoFXCM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 8500 440
Forex Pairs (Total) info 90 46 info
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info No Yes
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).

Dive deeper: Best Copy Trading Platforms.

Trading platforms and tools

Interactive Brokers and FXCM both provide excellent trading platforms and tools with a variety of features suitable for different trading styles. Both brokers offer simulated trading with a free virtual demo account, and have developed proprietary trading platforms in-house. Accessible through both Windows desktop download and web-based platforms, Interactive Brokers and FXCM cater to different user preferences. However, while Interactive Brokers supports trading directly from stock charts and offers an impressive 659 watch list columns, FXCM stands out with copy trading options and the popular MetaTrader 4 platform, offering a more social trading experience.

Although neither broker supports MetaTrader 5 or DupliTrade, FXCM provides enhanced social trading opportunities with ZuluTrade. In terms of charting tools, Interactive Brokers leads with 85 drawing tools, compared to FXCM's 10, a noteworthy difference for traders who rely on detailed chart analyses. Both brokers achieve high acclaim for their platforms and tools, each receiving a 5-star rating. When ranked against 63 brokers by ForexBrokers.com, Interactive Brokers is placed at #3 while FXCM follows closely at #6, illustrating a slightly higher user preference for Interactive Brokers' comprehensive tools set.

Feature Interactive Brokers logoInteractive Brokers
FXCM logoFXCM
Virtual Trading (Demo) info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No No
DupliTrade info No No
ZuluTrade info No Yes info
Charting - Indicators / Studies (Total) info 155 115
Charting - Drawing Tools (Total) info 85 10
Charting - Trade From Chart info Yes Yes
Watchlists - Total Fields info 659 13

Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.

Forex trading apps

Interactive Brokers and FXCM both offer mobile trading apps for iPhone and Android, catering to users keen on trading on the go. Both platforms allow users to set stock and forex price alerts, create watchlists with real-time quotes, and offer seamless watchlist syncing between the app and online accounts. When it comes to charting tools, Interactive Brokers provides a more extensive suite with 97 technical studies compared to FXCM's 59, yet both allow drawing trendlines and viewing multiple time frames for comprehensive analysis. However, FXCM has the edge in user convenience by auto-saving chart drawings, a feature absent in Interactive Brokers' app.

In terms of user ratings, Interactive Brokers outshines FXCM by receiving a full 5-star rating for its mobile trading app, compared to FXCM's 4.5 stars. Additionally, ForexBrokers.com ranks Interactive Brokers as the 4th best among 63 brokers under the Mobile Trading Apps category, while FXCM holds the 16th spot. This suggests that while both apps offer substantial features for traders, Interactive Brokers is perceived as providing a slightly more superior mobile trading experience.

Feature Interactive Brokers logoInteractive Brokers
FXCM logoFXCM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Watchlist Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 97 59
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info No Yes
Mobile Watchlist info Yes Yes

Dive deeper: Best Forex Trading Apps.

Market research

When comparing Interactive Brokers and FXCM in terms of market research offerings, both platforms provide daily market commentary and access to forex news from esteemed sources such as Bloomberg and Reuters, ensuring traders stay informed with the latest updates. Additionally, both brokers offer technical analysis tools from Trading Central, as well as sentiment-based trading tools that display the ratio of long and short positions on various instruments. They also each include an economic calendar to track global news events, essential for traders who want to align their strategies with market movements. However, a difference arises with research tools from Acuity Trading, where Interactive Brokers holds an advantage, offering access to features like Signal Centre, which is not available with FXCM.

Evaluating their research quality, Interactive Brokers receives a stellar rating of 5 stars, marking it as a top choice for in-depth market analysis. It ranks impressively as the third broker out of 63 for research on ForexBrokers.com. On the other hand, FXCM offers reliable market insights with a notable rating of 4.5 stars, securing the 11th position for research in the same review. This distinction highlights Interactive Brokers’ slightly superior standing in research offerings, making it a preferred option for traders who prioritize state-of-the-art research features and comprehensive market analysis.

Feature Interactive Brokers logoInteractive Brokers
FXCM logoFXCM
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central (Recognia) info Yes Yes
Social Sentiment - Currency Pairs info Yes Yes
TipRanks info Yes Yes
Signal Centre (Acuity Trading) info Yes No
Economic Calendar info Yes Yes

Dive deeper: Best Brokers for Forex Research.

Beginners and education

When comparing the educational resources offered by Interactive Brokers and FXCM for beginners, both online brokers emerge as strong contenders, offering a wide variety of learning materials. Interactive Brokers and FXCM each provide over 10 educational pieces focused on forex and CFDs, catering to those eager to learn. They both host monthly webinars and maintain archives of past sessions, making it easy for beginners to catch up or review material. Additionally, each broker supports beginners with at least 10 targeted educational videos, simplifying complex trading topics.

Furthermore, both Interactive Brokers and FXCM extend their resources with over 10 advanced videos for more experienced traders, along with investor dictionaries containing definitions of at least 50 investing terms to help broaden your financial vocabulary. Despite these similarities, Interactive Brokers stands out with a 5-star rating in education compared to FXCM's 4.5 stars. Ranked 3rd out of 63 brokers by ForexBrokers.com in the education category, Interactive Brokers leads over FXCM, which holds the 14th place.

Feature Interactive Brokers logoInteractive Brokers
FXCM logoFXCM
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes

Dive deeper: Best Forex Brokers for Beginners.

Winner

After testing 63 of the best forex brokers, our research and account testing finds that Interactive Brokers is better than FXCM. Interactive Brokers finished with an overall rank of #2, while FXCM finished with an overall rank of #15.

Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

Feature Interactive Brokers logoInteractive Brokers
FXCM logoFXCM
Overall Rating info 5/5 Stars 4.5/5 Stars
Trust Score info 99 95
Range of Investments 5/5 Stars 3.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Platforms & Tools 5/5 Stars 5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4/5 Stars

FAQs

Can you trade cryptocurrency with Interactive Brokers or FXCM?

Interactive Brokers allows users to buy actual delivered cryptocurrency and cryptocurrency derivatives, whereas FXCM offers only the ability to trade cryptocurrency derivatives, not actual delivered cryptocurrencies.

What funding options does each broker offer?

Interactive Brokers and FXCM both support ACH and SEPA transfers as well as bank wires for account funding and withdrawal; however, unlike Interactive Brokers, FXCM also supports PayPal, Skrill, and Visa or Mastercard, offering more diverse payment options.

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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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Overall Rating Interactive Brokers FXCM
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 3.5/5 Stars
Platforms & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4/5 Stars
Trust Score info 99 95
Winner check_circle
Review Interactive Brokers Review FXCM Review
Broker Screenshots Interactive Brokers FXCM
Broker Gallery (click to expand) info
IBKR mobile watchlist. IBKR Desktop platform charts. Interactive Brokers research Traders Insight daily analysis article detail Interactive Brokers IBKR Podcast video.
FXCM mobile app watchlist. FXCM web platform. FXCM research web articles market analysis. FXCM education articles
Regulation Interactive Brokers FXCM
Trust Score info 99 95
Year Founded info 1977 1999
Publicly Traded (Listed) info Yes Yes
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-1 Licenses info 9 4
Tier-2 Licenses info 2 2
Tier-3 Licenses info 0 0
Tier-4 Licenses info 0 0
Tier-1 Licenses (Highly Trusted) Interactive Brokers FXCM
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes Yes
Hong Kong (SFC Authorised) info Yes No
Japan (SFC Authorised) info Yes No
Singapore (MAS Authorised) info Yes No
Switzerland (FINMA Authorised) info Yes
United Kingdom (U.K.) (FCA Authorised) info Yes Yes
USA (CFTC Authorized) info Yes No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes info
Tier-2 Licenses (Trusted) Interactive Brokers FXCM
Kenya (CMA Authorised) info
Israel (ISA Authorised) info No Yes
South Africa (FSCA Authorised) info No Yes
UAE (DFSA/Central Bank Authorised) info Yes No
India (SEBI Authorised) info Yes No
Jordan (JSC Authorised) info
Investments Interactive Brokers FXCM
Forex Trading (Spot or CFDs) info Yes Yes
Tradeable Symbols (Total) info 8500 440
Forex Pairs (Total) info 90 46 info
U.S. Stock Trading (Non CFD) info Yes No
Int'l Stock Trading (Non CFD) info Yes No
Social Trading / Copy Trading info No Yes
Cryptocurrency (Physical) info Yes No
Cryptocurrency (Derivative) info Yes Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).
Cost Interactive Brokers FXCM
Average Spread EUR/USD - Standard info 0.59 info 0.78 info
All-in Cost EUR/USD - Active info 0.65 info 0.78 info
Active Trader or VIP Discounts info Yes Yes
Inactivity Fee info No Yes
Execution: Agency Broker info Yes Yes
Execution: Market Maker info No Yes
Funding Interactive Brokers FXCM
Minimum Deposit info $0 Starts from $50
PayPal (Deposit/Withdraw) info No Yes
Skrill (Deposit/Withdraw) info No Yes
Visa/Mastercard (Credit/Debit) info No Yes
Bank Wire (Deposit/Withdraw) info Yes Yes
ACH or SEPA Transfers info Yes Yes
Trading Platforms Interactive Brokers FXCM
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes Yes
Web Platform info Yes Yes
Social Trading / Copy Trading info No Yes
MetaTrader 4 (MT4) info No Yes
MetaTrader 5 (MT5) info No No
cTrader info No No
DupliTrade info No No
ZuluTrade info No Yes info
Trading Tools Interactive Brokers FXCM
Virtual Trading (Demo) info Yes Yes
Alerts - Basic Fields info Yes Yes
Watchlists - Total Fields info 659 13
Charting - Indicators / Studies (Total) info 155 115
Charting - Drawing Tools (Total) info 85 10
Charting - Trade From Chart info Yes Yes
Charts can be saved info Yes Yes
Mobile Trading Interactive Brokers FXCM
Android App info Yes Yes
Apple iOS App info Yes Yes
Mobile Alerts - Basic Fields info Yes Yes
Mobile Watchlist info Yes Yes
Watchlist Syncing info Yes Yes
Mobile Charting - Indicators / Studies info 97 59
Mobile Charting - Draw Trendlines info Yes Yes
Mobile Charting - Multiple Time Frames info Yes Yes
Mobile Charting - Drawings Autosave info No Yes
Mobile Economic Calendar info Yes Yes
Research Interactive Brokers FXCM
Daily Market Commentary info Yes Yes
Forex News (Top-Tier Sources) info Yes Yes
Autochartist info No No
Trading Central (Recognia) info Yes Yes
TipRanks info Yes Yes
Social Sentiment - Currency Pairs info Yes Yes
Economic Calendar info Yes Yes
Education Interactive Brokers FXCM
Education (Forex or CFDs) info Yes Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Videos - Beginner Trading Videos info Yes Yes
Videos - Advanced Trading Videos info Yes Yes
Investor Dictionary (Glossary) info Yes Yes
Major Forex Pairs Interactive Brokers FXCM
GBP/USD info Yes Yes
USD/JPY info Yes Yes
EUR/USD info Yes Yes
USD/CHF info Yes Yes
USD/CAD info Yes Yes
NZD/USD info Yes Yes
AUD/USD info Yes Yes
Review Interactive Brokers Review FXCM Review
Overall Interactive Brokers FXCM
Overall Rating info 5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 4/5 Stars
Range of Investments 5/5 Stars 3.5/5 Stars
Platforms & Tools 5/5 Stars 5/5 Stars
Mobile Trading 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4/5 Stars
Trust Score info 99 95
Winner check_circle
Review Interactive Brokers Review FXCM Review
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